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Australia, NZ dollars tumble to multi-week lows, bonds battered
SYDNEY: The Australian and New Zealand dollars languished near multi-week lows on Thursday after red-hot US economic data boosted the greenback across the board, while a renewed rout in global bond markets drove yields to 15-year peaks. Domestic data showing a surprise rise in unemployment added to the Australian dollar’s woes, nudging it to a seven-week low of $0.7025 after a 1% overnight slide. The drop breached multiple moving averages, turning the technical outlook bearish and risking a retreat to $0.6920 and $0.6866. The kiwi dollar was pinned at $0.5676, having also shed 1% overnight. A ...
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